Loan Loss Reserves

Second National Bancorporation, just days after the completion of a federal exam, said yesterday that it lost $21 million in the third quarter after making a large addition to its reserves for souring loans.The quarterly loss for the parent of Second National Federal Savings Bank pushed a third key financial ratio slightly below levels required by regulators.In response, Second National said that it expected to revise this month a plan it signed with regulators in March to restore the health of troubled thrift.

By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | July 22, 2009

1st Mariner Bancorp, parent of Baltimore's largest independent bank, reported Tuesday that it lost $2.4 million in the second quarter, or 37 cents per share. That compares with a loss of $469,000, or 7 cents per share, for the corresponding quarter a year ago. Despite the steep loss in the second quarter ended June 30, the company noted that it is smaller than the loss of $3.1 million in the first quarter of this year and the $9.06 million loss in the last quarter of 2008. "It's less bad, but it's hardly good," said banking consultant Bert Ely. "They are still taking losses ... and the losses are not insignificant."

Bank Maryland Corp., a Towson-based bank-holding company, eked out a $8,806 profit, 0.44 of 1 cent per share, during the fourth quarter. However, it was an improvement over the 1989 fourth quarter when the company had a $1.4 million loss, or 74 cents a share.For the year, the company had a loss of $11 million, or $5.40 a share, an eight-fold increase in red ink over 1989 when the company lost $1.3 billion, or 70 cents a share.Bank Maryland is the parent company of Bank of Maryland, which has 13 branches in the state and had total assets of $218.

By William Patalon III and William Patalon III,SUN STAFF | February 1, 2002

While Deutsche Bank AG yesterday acknowledged that more job cuts must come after it posted its first quarterly loss in five years, officials did not say how those plans might affect the bank's Deutsche Banc Alex. Brown Inc. unit in Baltimore. "We would be bad managers if we ruled out further job cuts anywhere in this large company so early in the year," said Deutsche Bank board member Tessen von Heydebreck. A spokesman at Deutsche Bank's U.S. headquarters in New York declined to speculate on whether there would be more jobs lost at Alex.

Provident Bankshares Inc.Provident said yesterday that it had a second-quarter profit o$860,000, reversing the $6.6 million loss it took during 1990's second quarter.The parent company of Provident Bank of Maryland said that it was able to add $6.4 million less to its loan loss reserves this year than during the same three months of last year.Three months ended 6/30/91... ... ... ... Income... ... ... ... ... Share'90... ... ... 860,000... ... ... ... .. 0.14'89... ... ..(6,600,000)... ... ... ...(1.

Baltimore Bancorp, the parent company of the Bank of Baltimore, reports a fourth-quarter loss of $6.5 million, or 51 cents a share, compared with earnings of $1.9 million during the 1989 fourth quarter.But the company reports it ended the year in the black with a net income of $9 million, or 71 cents a share, a 49 percent drop from 1989 when the company earned $17.6 million, or $1.36 per share.Baltimore Bancorp, the state's fifth-largest banking operation, had total assets of $3.52 billion at the end of the year.

The state's second-largest bank holding company, First Maryland Bancorp, and one of the Maryland's largest thrifts, Loyola Capital Corp., today reported record profits for 1991. Loyola Capital, parent of Loyola Federal Savings and Loan, also announced more good news: the company's first quarterly dividend.Another bank holding company, Signet Banking Corp., yesterday announced it lost $51.7 million in the fourth quarter, bringing its annual loss to $25.7 million. Signet's earnings were hurt by a $165 million addition to loan loss reserves.

Three banks with Maryland operations reported modest gains in third-quarter profits yesterday, and one a small profit dip, as falling interest rates cut into the spreads between the rates banks pay for deposits and the rates they can command from borrowers.First Maryland Bancorp, a unit of Allied Irish Banks PLC that is the parent of the First National Bank of Maryland, said its earnings rose 8.8 percent to $31 million. The Baltimore bank said its loan base is 11 percent bigger than last year at this time, driving interest income up by $3.7 million, enough to account for the entire profit gain.

Signet Banking Corp. reported a $51.7 million loss in its fourth quarter as the bank followed through on a December promise to add an extra $165 million to loan loss reserves.The Richmond, Va., bank holding company, which owns Signet Bank/Maryland, also said it plans to sell a quarter of its bad real estate assets this year.The extra loan loss cushion caused the company to lose $1.91 a share, in the last three months of 1991. The quarter closed the books on a year in which the company lost $25.7 million, in contrast to a profit of $41.4 million in 1990.

Three banks with Maryland operations reported modest gains in third-quarter profits yesterday, and one a small profit dip, as falling interest rates cut into the spreads between the rates banks pay for deposits and the rates they can command from borrowers.First Maryland Bancorp, a unit of Allied Irish Banks PLC that is the parent of the First National Bank of Maryland, said its earnings rose 8.8 percent to $31 million. The Baltimore bank said its loan base is 11 percent bigger than last year at this time, driving interest income up by $3.7 million, enough to account for the entire profit gain.

Baltimore Bancorp added $25 million yesterday to the $69.6 million loss it had reported for last year's fourth quarter, as a review by federal regulators led the bank to write off even more problem real estate loans.The new write-offs brought the fourth-quarter loss at the parent of the Bank of Baltimore to $94.6 million. The restated loss for the year was $126.5 million. Baltimore Bancorp recorded a $9 million profit in 1990.Elisabeth Albert Hayes, a bank analyst for Chapin, Davis in Baltimore, said the bigger loss means more pressure on the bank's capital levels, which in turn means the company's planned restructuring might have to be more extensive than anticipated.

Baltimore Bancorp added $25 million yesterday to the $69.6 million loss it had reported for last year's fourth quarter, as a review by federal regulators led the bank to write off even more problem real estate loans.The new write-offs brought the fourth-quarter loss at the parent of the Bank of Baltimore to $94.6 million. The restated loss for the year was $126.5 million. Baltimore Bancorp recorded a $9 million profit in 1990.Elisabeth Albert Hayes, a bank analyst for Chapin, Davis in Baltimore, said the bigger loss means more pressure on the bank's capital levels, which in turn means the company's planned restructuring might have to be more extensive than anticipated.

Signet Banking Corp. reported a $51.7 million loss in its fourth quarter as the bank followed through on a December promise to add an extra $165 million to loan loss reserves.The Richmond, Va., bank holding company, which owns Signet Bank/Maryland, also said it plans to sell a quarter of its bad real estate assets this year.The extra loan loss cushion caused the company to lose $1.91 a share, in the last three months of 1991. The quarter closed the books on a year in which the company lost $25.7 million, in contrast to a profit of $41.4 million in 1990.

The state's second-largest bank holding company, First Maryland Bancorp, and one of the Maryland's largest thrifts, Loyola Capital Corp., today reported record profits for 1991. Loyola Capital, parent of Loyola Federal Savings and Loan, also announced more good news: the company's first quarterly dividend.Another bank holding company, Signet Banking Corp., yesterday announced it lost $51.7 million in the fourth quarter, bringing its annual loss to $25.7 million. Signet's earnings were hurt by a $165 million addition to loan loss reserves.

By Eileen Ambrose and Eileen Ambrose,eileen.ambrose@baltsun.com | July 22, 2009

1st Mariner Bancorp, parent of Baltimore's largest independent bank, reported Tuesday that it lost $2.4 million in the second quarter, or 37 cents per share. That compares with a loss of $469,000, or 7 cents per share, for the corresponding quarter a year ago. Despite the steep loss in the second quarter ended June 30, the company noted that it is smaller than the loss of $3.1 million in the first quarter of this year and the $9.06 million loss in the last quarter of 2008. "It's less bad, but it's hardly good," said banking consultant Bert Ely. "They are still taking losses ... and the losses are not insignificant."

Second National Bancorporation, just days after the completion of a federal exam, said yesterday that it lost $21 million in the third quarter after making a large addition to its reserves for souring loans.The quarterly loss for the parent of Second National Federal Savings Bank pushed a third key financial ratio slightly below levels required by regulators.In response, Second National said that it expected to revise this month a plan it signed with regulators in March to restore the health of troubled thrift.

Baltimore Bancorp, citing problems with $30 million in commercial real estate loans, said yesterday that it will cut its quarterly dividend by 40 percent and expects to report a $1 million loss for the third quarter.The company, the parent of the Bank of Baltimore, said that its 15-cents-a-share quarterly dividend will be cut to 9 cents for the third quarter, plus a 1 cent special dividend. Company Chairman Robert F. Comstock said the dividend cut was designed to cut the percentage of the company's profits spent on the dividend rather than reinvested in the bank.